GP-Act III Acquisition (NASDAQ:GPAT) Stock Price Up 0.2% – Should You Buy?

GP-Act III Acquisition Corp. (NASDAQ:GPAT)’s share price traded up 0.2% during trading on Thursday . The company traded as high as $10.77 and last traded at $10.77. 36,652 shares were traded during trading, an increase of 126% from the average session volume of 16,245 shares. The stock had previously closed at $10.75.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

GP-Act III Acquisition Trading Up 0.2%

The firm has a fifty day moving average of $10.72 and a 200 day moving average of $10.65.

GP-Act III Acquisition (NASDAQ:GPAT) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.09 EPS for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meteora Capital LLC purchased a new position in GP-Act III Acquisition in the 2nd quarter valued at about $20,330,000. Alberta Investment Management Corp purchased a new position in shares of GP-Act III Acquisition in the second quarter valued at approximately $17,144,000. Westchester Capital Management LLC lifted its position in shares of GP-Act III Acquisition by 22.5% in the fourth quarter. Westchester Capital Management LLC now owns 1,360,852 shares of the company’s stock valued at $14,561,000 after acquiring an additional 250,000 shares in the last quarter. Wealthspring Capital LLC boosted its stake in shares of GP-Act III Acquisition by 406.1% in the second quarter. Wealthspring Capital LLC now owns 1,059,042 shares of the company’s stock worth $11,173,000 after acquiring an additional 849,783 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its position in shares of GP-Act III Acquisition by 90.6% during the third quarter. Wolverine Asset Management LLC now owns 954,866 shares of the company’s stock worth $10,122,000 after purchasing an additional 453,866 shares in the last quarter.

About GP-Act III Acquisition

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.